Posts belonging to Category Citigroup/Smith Barney
Posted by Page PerryonMarch 29, 2011
The Financial Industry Regulatory Authority (“FINRA”) announced that it is conducting “targeted exams” known as “sweeps” of certain member brokerage firms in order to gather information about their advertising for a group of structured products called reverse convertibles, according to Zeke Faux’s Bloomberg article, “Finra Asks Brokers for Reverse-Convertible Marketing Materials.”
Categories: Ameriprise, Bank of America, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Derivatives, Investigations, Investor Alerts, J. P. Morgan Chase, Merrill Lynch, Morgan Stanley, Regulatory Developments, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, UBS
Posted by Page PerryonMarch 27, 2011
Four of the nation’s largest Wall Street banks are facing threatened lawsuits by the National Credit Union Association (“NCUA”) and, possibly, regulators if they do not refund approximately $50 billion that five “wholesale” or “corporate” credit unions used to purchase bonds backed by risky subprime mortgage loans, according to a Wall Street Journal article by […]
Categories: Asset Backed Securities, Bank of America, Brokerage Firms, Citigroup/Smith Barney, Commercial Mortgage Backed Securities, Common Securities Broker Abuses, Derivatives, Goldman Sachs, J. P. Morgan Chase, Merrill Lynch, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes
Posted by Page PerryonMarch 19, 2011
The Lehman Brothers Holdings bankruptcy trustee has sued Citibank to recover more than $1.3 billion, according to Dena Aubin’s March 18, 2011 article in Reuters. The $1.3 billion includes a $1 billion deposit demanded by Citibank to continue providing foreign exchange settlement services to Lehman’s broker subsidiary (LBI) after the bankruptcy filing. Citigroup also froze […]
Categories: Brokerage Firms, Citigroup/Smith Barney, Lehman Brothers, Market Developments, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonMarch 17, 2011
The Securities and Exchange Commission and the Justice Department are investigating whether Bank of America Corp., Citigroup Inc., UBS AG, and other banks submitted inaccurate data in an attempt to manipulate the London Interbank Offered Rate (LIBOR), according to a Wall Street Journal article by David Enrich and Jean Eaglesham called “U.S. LIBOR Probe Includes […]
Categories: Bank of America, Brokerage Firms, Citigroup/Smith Barney, Commercial Mortgage Backed Securities, Economy, Market Developments, Mortgage Backed Securities, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, UBS
Posted by Page PerryonMarch 15, 2011
Expecting licensed professionals who provide investment advice to act in their clients’ best interests “should be a basic tenet of the business,” but brokerage firms and their brokers don’t want that fiduciary yoke, says Karen Blumenthal in her InvestmentNews article, “When Your Adviser Can’t Be Trusted.” Moreover, they don’t want the public to know that […]
Categories: A General Overview, Ameriprise, Bank of America, Bank of New York Mellon, Brokerage Firms, Charles Schwab, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Suisse, Deutsche Bank, Fairness/Just & Equitable Conduct, Fidelity, Goldman Sachs, Investment Advisers, Investment Malpractice, Investor Alerts, J. P. Morgan Chase, Legg Mason, LPL Financial, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, RBC Dain Raucher, Regulatory Developments, Securities America, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, SunTrust, TD Ameritrade, UBS, Wachovia, Wells Fargo
Posted by Page PerryonMarch 7, 2011
In February of 2008, about three months after Citigroup disclosed that the value of its subprime securities had fallen by $8 to 11 billion since September 30, the Office of the Comptroller of the Currency informed Citigroup CEO Vikram Pandit by letter that its bank examiners had found that Citigroup lacked a reliable method for […]
Categories: Citigroup/Smith Barney
Posted by Page PerryonFebruary 17, 2011
Documents recently released by the Financial Crisis Inquiry Commission show how close Citigroup and Morgan Stanley came to collapse, according to a New York Times Dealbook column by Susanne Craig and Ben Protess entitled “New Details Emerge About Morgan Stanley and Citi in the Crisis.”
Categories: Brokerage Firms, Citigroup/Smith Barney, Market Developments, Morgan Stanley, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools
Posted by Page PerryonFebruary 16, 2011
If you are an investor who lost money in the financial crisis, your stockbroker or investment advisor may owe you money. There are a variety of legal claims that can be brought for investment malpractice, ranging from fraud and misrepresentation to making unsuitable investment recommendations. But there are also legal deadlines for bringing such claims, […]
Categories: Asset Backed Securities, Auction Rate Securities, Bank of America, Bank of New York Mellon, Barclays, Brokerage Firms, CDOs, Citigroup Hedge Funds, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Default Swaps, Credit Suisse, Derivatives, Deutsche Bank, Goldman Sachs, Hedge Funds, Investment Advisers, Investment Malpractice, Investor Alerts, J. P. Morgan Chase, Legg Mason, LPL Financial, Misrepresentation/Omission, Morgan Keegan, Morgan Stanley, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Oppenheimer, Preferred Stocks, Raymond James, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, SunTrust, UBS, Unsuitable Recommendations, Wachovia, Wells Fargo
Posted by Page PerryonFebruary 14, 2011
The new whistleblower program that pays big cash rewards for tips about investment fraud has already resulted in a large number of high quality tips to the SEC, according to a news story this week on CNBC. According to the report, the SEC expects to receive 30,000 tips this year?just one year after the program […]
Categories: Ameriprise, Bank of America, Bank of New York Mellon, Barclays, Brokerage Firms, Charles Schwab, Citigroup/Smith Barney, Credit Suisse, Deutsche Bank, Employment Issues, Fidelity, Financial Industry Whistleblowers, Goldman Sachs, J. P. Morgan Chase, Legg Mason, LPL Financial, Merrill Lynch, Morgan Keegan, Morgan Stanley, Oppenheimer, Raymond James, RBC Dain Raucher, Regulatory Developments, Securities America, Securities/Commodities Arbitration, Securities/Commodities Litigation, State Street, SunTrust, TD Ameritrade, UBS, Wells Fargo
Posted by Page PerryonFebruary 9, 2011
Citigroup’s problems with its proprietary MAT/ASTA municipal arbitrage funds just keep growing. A recent Wall Street Journal article by Suzanne Barlyn entitled “Citi Units Must Pay $6.4 Million Over Muni-Arbitrage Loss,” which concerns Citi’s disastrous MAT/ASTA municipal arbitrage funds, reports a significant $6.4 million award issued against Citigroup in a MAT/ASTA case by a Financial […]
Categories: Brokerage Firms, Citigroup Hedge Funds, Citigroup/Smith Barney, Common Securities Broker Abuses, Hedge Funds, Investment Advisers, Municipal Bonds, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
